Hazleton, PA -
Interest in property and investment in Humboldt Industrial Park continues to grow as Equilibrium Equities of Conshohocken, PA, becomes the latest developer to enter the Greater Hazleton market by breaking ground today for the first building in Humboldt Industrial Park East.
About 50 people gathered this morning as Equilibrium officially began construction of a 240,000-square foot building on Site 102 in Humboldt East. This section of Humboldt will also be home to Humboldt Station, a development of hotels, restaurants and a convenience store gas station.
"We chose Humboldt East for our newest speculative project because of its prime location to major markets in the northeast and because of the quality of Greater Hazleton's workforce," said Adam Meinstein, president of Equilibrium Equities.
"CAN DO is very pleased to add Equilibrium Equities to the increasing number of developers taking an interest in the Greater Hazleton market," said E. Thomas Sandrock, CAN DO chairman. "Humboldt East promises to bring more great companies and more jobs to Greater Hazleton."
Since 2001, Equilibrium has developed buildings and parks for more than 3.3 million square feet of industrial space and has 700,000 square feet of additional projects in its development pipeline. They invested primarily in the Harrisburg and Scranton markets prior to launching this project in Hazleton.
"We have been watching the Hazleton market and have begun to see a lot of activity here. Things are really looking bright for Hazleton and we think we are getting in at the right time," Meinstein said. "It was exciting to see that ADM and The Coca-Cola Company have announced projects here in the short time since we made our decision to begin developing in Hazleton."
"We are committed to erecting high-quality buildings here. This project will feature tilt-up concrete construction with 32-foot clear height ceilings and an ESFR fire suppression system, as well as generous car parking and additional room for storing 60 trailers," he said.
Completion of site work and shell construction is projected for the second quarter of 2007. The site is in a Keystone Opportunity Zone (KOZ), which offers tenants tax abatement on most local, county and state taxes until 2010.
Humboldt Industrial Park East is a part of the fully mature Humboldt Industrial Park. Located just off I-81 on State Route 924 and only minutes south of I-80, Humboldt East offers excellent transportation links to interstate highways and is within 250 miles of most major markets in the Northeast and Mid-Atlantic regions.
